LONDON: Chesnara plc, a leading European life and pensions consolidator, has struck a significant deal with Canada Life Limited to acquire a closed portfolio comprising unit-linked bonds and legacy pension business, encompassing approximately 17,000 policies and total assets under management of £1.5 billion as of 31 December 2023. The agreement will see these policies transferred…
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Chesnara partners with SS&C Technologies for UK policy administration
LONDON, UK: Chesnara plc, the European life and pensions consolidator, has announced a long term strategic partnership with SS&C Technologies (“SS&C”), a global provider of software and technology services to the financial service industry, to provide policy administration services to its UK division. The partnership will give Chesnara access to SS&C’s front-to-back office servicing model…
Chesnara to acquire Canada Life UK’s Individual Protection Business
LONDON, UK: Chesnara plc, the European life and pensions consolidator, today announced that it has reached an agreement with Canada Life UK to acquire its onshore individual protection line of business, which was closed to new business in November 2022. As a result of the acquisition, the life insurance and critical illness policies for approximately…
Chesnara Plc agrees to buy Robein Leven for £13 million
LONDON, UK: Chesnara Plc has entered into an agreement with Monument Re Group to acquire Robein Leven, a specialist provider of traditional and linked savings products, mortgages and annuities in the Netherlands. It is expected to complete in the first half of 2022. Chesnara plc, through its existing Netherlands-based closed book platform, the Waard Group,…
Chesnara to acquire Sanlam Life & Pensions UK for £39 million
LONDON, UK: Chesnara Plc has entered into an agreement with Sanlam UK Limited to acquire Sanlam Life & Pensions UK Limited (SLP), a specialist provider of insurance and long-term savings products in the UK.Cash consideration of £39 million will be funded from Chesnara’s existing debt facility. The acquisition enhances the scale of its operations in…
Chesnara plc all set to acquire Dutch insurance portfolio of Brand New Day
LONDON: Chesnara plc confirmed that all remaining conditions precedent to the completion of the proposed acquisition of the Dutch insurance portfolio of Brand New Day Levensverzekeringen N.V. have now been fulfilled and the conversion of policies onto the systems of Chesnara’s Waard Leven N.V. has been completed. John Deane noted: “This marks Chesnara’s fifth successful…